Tim Geithner Rewarded for Financial Crimes: Will Join CFR As a Distinguished Fellow

Thank YouOnly in America can one submit false tax returns, hold meetings at the NY Fed with the agenda of manipulating LIBOR rates, and leak FOMC interest rate policy announcements prior to their release to your bankster buddies, be caught in all 3 above crimes, and be made a distinguished fellow of the Council on Foreign Relations rather than a resident of a NY penitentiary

Perhaps the CFR should consider looking up the dictionary definition of distinguished:
1. Successful, authoritative, and commanding great respect.
2. Dignified in conduct or appearance.

Exactly what comes to mind when one thinks of Mr. Turbo-Tax Geithner. [Read more...]

“Do You Own Gold?” Ray Dalio at CFR: “Oh Yeah, I Do”

Ray Dalio, founder and co-chief investment officer of Bridgewater Associates, L.P. and one of the most successful hedge fund managers of all time told Maria Bartiromo last week that he owns gold and that he sees no “sensible reason not to own gold”. The interview was part of the Council on Foreign Relations (CFR) Corporate Program’s CEO Speaker Series, which provides a forum for leading global CEOs to share their priorities and insights before a high-level audience of wealthy and influential CFR members.  The respected hedge fund manager suggested that a depression and not a recession was likely and warned of social unrest and the risk of radical politics as was seen with Hitler and the Nazis in the Depression of the 1930’s. Dalio spoke about how gold is a currencyand when asked by Bartiromo “do you own gold?”, he smiled and said Oh yeah, I do.The admission elicited a laugh from the CFR audience. Dalio’s interview is important as it again indicates how slowly but surely gold is moving from a fringe asset of a few hard money advocates and risk averse individuals to a mainstream asset. Wealthier people and some of the wealthiest and most influential people in the world are slowly realizing the importance of gold as financial insurance in an investment portfolio and as money. This will result in sizable flows into the gold market in the coming months which should push prices above the inflation adjusted high of 1980 – $2,500/oz. [Read more...]